tv [untitled] February 29, 2012 5:30am-6:00am EST
cross the country. of the most. struggles to comply with creditors to. spain is also trying hard to avoid the same scenario we talked to a spanish economist on what's ahead for the fourth largest economy. spain has a new conservative government that further austerity measures the spokes we need protests and with the country now suffering cripplingly high unemployment
especially among the many people are all thinking whether the country often described as to big to fail already have we're joined now by economist manuel thank you very much for joining us can you tell us how much of what the country is experiencing right now is due to being a member of the usa the situation that spain is experiencing it's clearly a consequence of spain joining the euro you see that we joined the euro. we were. subject to the european central bank the european central bank has settled interest rates or courting to the needs of the core europe which is or germany austria the france the netherlands and it's right the right to do that and those interest rates were very low for spain they were adequate for most countries part of very low for spain so what happened these that we received an
enormous amount of credit reach priest spanish debt particularly. for income the forty forty. so what happened is that these cheap money has created bubbles like the real estate bubble and when the crisis started the real estate bubble. fell down and of course companies started going back dropped public administration started not receiving income they were accustomed to and the whole the whole economy blew up but we think any government come in the protests have continued what do you think spain future now holds the government is doing what. you are peace telling them to do cut public spending and make some structural reforms like labor reforms which is ok.
but that's not going to solve the problem because the problem is the euro and that's not going to solve the problem and so everybody in spain of the world with these expecting. the great expectations that the new government is going to arrange the the problem and i expect that maybe we have six nine months of goodwill. and after six of my months. if the economy continues to deteriorate as i expect the economy to deteriorate people are going to be very very made the move deceived when they when they see that that with the reality doesn't match their expectations with this government do you think spain's future lies now within the year it's certainly not. certainly not now nor spain nor portugal nor greece nor eataly whom the the so-called peace i don't know about an island i don't know very much but certainly not spain of course in theory you
could have a uterus wrong with the core countries with germany the netherlands. austria maybe not very sure france. but i am i my feeling is that if the peripheral countries abandon the euro i don't think the although four or five or six countries will feel very happy remaining alone where you've written about things exit from the area think do you think that is a realistic option is a political problems the that and it's also is. a credit. debt problem you see. spain has as we said before about. one thousand nine hundred billion foreign debt about half of that is held by germany and france maybe banks and
funds and investors so you could see france and germany they don't want spain to default because of course leaving the euro is seen only most of defaulting i mean because if you leave the euro the fording that you have to you can repeat so if spain leave the euro spain has to default and that we heard german and french banks and they don't want that so the. situation is very easy to understand it's like if i am a bank or you or me money you cannot pay well i want you to do whatever you you can to pay me and i don't want it will stop eating you take your chilled out of school do whatever but take me back. you have. dozens of examples of even recent history in the last twenty years it has been thirteen countries many more maybe of
these thirteen that have devalued because they had. problems with competing and overvalued currencies and the the result was. one in some cases better than others but it's it's always the other end it's successful of course it's not that devaluing east's the cure of all ease you have to devalue and you have to do all the things all the reforms certainly. just devaluing is not enough but you can do nothing if you don't devalue scene but the people in greece and in spain being part of the year if their remains very much a source of pride doesn't it you're right you're right you see for reasons spain well the euro east associated with europe and of course politicians have conveyed this message they say because of food because if you leave the euro you will be chased from the your european union which is forced i am of course the treaties
the they don't they don't. consider the possibility of leaving the euro which is a white matter that they don't concede but i'm absolutely certain that if if if if spain leaves the euro nobody's going to chase spain out of the european union but anyway for the for the people. who are not very much aware of economics and nobody's aware that the crisis or region is the euro in spain nobody's aware of that maybe some economists are aware but the majority of course the message that. it's been conveyed by the banks by the. media and by politicians is that the problem is the overspending of our ministrations which is right i mean the asian overspending that's a problem but also thought the origin of the problem the origin of the problem is
the euro and the lack of competitiveness that there you know has brought to spain therefore the recession and of course the recession always please repeat. a deficit in the public administration but the deficit in the public administration is a consequence of the spanish economy not being competitive do you think there are fears that what's happening at the moment in greece is going to be repeated in staying exactly the same i think it's we. they are about two years behind greece him terms of protest but you see the policy which the troika. and the international border font european central bank and european union are imposing on but if for countries greece italy spain portugal it's economics one o one is very simple to understand that i mean if these countries are. with
problems and you force the to cut public spending well you. push them deep into recession and even your pretended objective which is to reduce public deficit where you don't reach that goal because the. income of the of the public administration is reduced because the whole country goes into a big recession we have seen that in greece how every year the economy goes worse and we are seeing that that in spain and we experiment that he's paid more and more thank you very much for joining us.
culture is that so much given to each musician trying to find the right to protect the rights to penetrate as syria continues down the path of destruction and civil war there are loud voices on the international stage. sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything is you don't know i'm tom harpur welcome to the big picture.
the headlines on. a form in syria fails to silence. rhetoric in washington as the u.s. secretary of state says the syrian leader may fit criminal status and that's just off the president signed a new draft constitution which implies a political shake up in the conflict torn country. with just a few days to go before russia's presidential election candidates read efforts to win votes but people's needs on the political loyalties are not the same all across the country but a stark contrast to. the greeks
plan to vent more anger on the streets of athens as the government starts to implement new belt tightening measures spain one of the most indebted to e.u. nations to accept to follow a similar path. right now and use both in full in about fifteen minutes time first though its pull on the sport. hello and welcome to the world of sports here is what we've got coming up. no such thing as a friendly russia begin their euro twenty twelve preparations with a trip to copenhagen to take on denmark. stepping up under twenty one coach stuart pearce to take charge of england's senior side for the first time following the resignation of fabio capello take on the netherlands at wembley.
on tape of the ring floyd mayweather jr i make well call time for my bandmates bit about the talk continues about a so-called super fight between pretty boy and manny pacquiao. but first russia have held their final training session and of their match with denmark later on wednesday it may just be a friendly but dick advocaat semana taking the encounter seriously with the european championship just around the corner which is one portly reports from copenhagen. the euros may be just over three months away but that time will pass very quickly for take out the cards but has just pretty friendly matches to pay for half of those championships and has to pick his squad of twenty free which will go to poland and ukraine russia's head coach may have already decided on the majority of his squad but is taking the game very seriously you can design a series three four goals before we start to. we don't have some of the chances to play good together the group to group is improving and playing better and better
and you can see them training this is also in the last couple of games of the group . with so few games left before euro two thousand and twelve advocaat has very little time to tinker with his squad. i'm a dutchman admits that wednesday's game will not be the time for experimentation and he will stick with those players who booked russia's passage to the finals however russia's boss is pleased with some of the side's key players have returned to russia recently after not have the most successful of career as a paroled of under a shove in the latest to return home others good for us if we weren't good for the nation too as well because he needs more practice in the need for more games. at the poles are moved to do more. for the vast majority of us squads the game of denmark will be just a second competitive match of a new season as russia is just coming out of its winter break while for the likes
of roman publishing co who missed training through illness you're issued a call from flooding the go ball of is likely just tossing goal with the i just love my life even eva i can fave both missing this will be the first competitive encounter of a new season as vec loves were not involved in european club competitions however dean dean of the players are raring to go and it was good to meet up as a squad again after a break of over three months since the last fixture in the us the most this is the final friendly before we begin preparing for the euros and this is also a great tune up for the league season which restarts in a week's time this should be a good game as we're playing another euro two thousand and twelve participant at their stadium or someone who knows. it's denmark unlikely to present russia with a tough test the danes of course also qualifying for european championships is likely to be even encounter and even vote for carter said he'll play strongest
eleven expect the dutchman to make wholesale changes in the second half as he takes a look at some players who are looking to make his final scored viewers might seem a long way away at the moment but in reality it is not much time for the consequence of his side for those finals of a game with denmark might only be a friendly but is going to be a key opportunity especially for some of the fringe players so impressive a dutchman when you take it on the plane to those finals in poland and ukraine. don't see copenhagen elsewhere england's caretaker manager stuart pearce takes charge of the side for the first time later on wednesday as the netherlands visit wembley it's england's first game since found here capello resigned earlier this month well pearce steps up from the under twenty one squad where he's been the boss for more than five years the f.a. say they've had no contact with any candidates for the job on a full time basis pay said he'd happily take on the role for euro two thousand and twelve this summer and has already changed plans put in place by capello for
england's preparations ahead of the tournament his first major decision is to name a new captain with steven gerrard scott parker joe hart and james milner all being mentioned as possible candidates. well another manager taking charge of his national side for the first time this chris coleman has replaced the late gary speed as wales manager and later on wednesday they welcome costa rica in a match dedicated to the memory of speed the forty two year old was found hanged at his home in november. elsewhere the kontinental hockey league playoffs are kicking off with the western conference quarterfinals beginning later on wednesday face the biggest test in their battle with outland having fired their coach a day before the start of the postseason they play the first game in the best of seven series with alexander's none of the caretaker of the dimitri was let go. moscow are now facing a tough series of games against top seeded scarse and. torpedo take on love inside
an armory in a moscow are up against a number of mates from valery. have it all to do with basketball during a play want to go beyond the top sixteen stage decorated sixth you are late winners punished and i cross could end the season and apartment later on wednesday the greeks already qualified for the playoffs politics will be out of the postseason if they lose. that mulatto in the other group gang. all over in the n.b.a. derrick rose had to come to the rescue to bail out his top three chicago bulls against the bottom you're ready to most valuable player getting into the lane on his way to thirty two points in the first game since the break for the you can't hold it still back with a run in the fourth. shot getting a lucky bounce with nineteen point four seconds left in the guy and
a real run helping the bulls to a ninety nine ninety five when as john just missed the last chance to tie the game for the visitors. now may not be the contest of the boxing world is desperate to say but anticipation is growing as floyd mayweather jr prepares to put his unbeaten record on the line again in may the pair will trade blows at the m.g.m. grand in las vegas on may the fifth with cortez w.p.a. super welterweight crown on the line. but that's a press conference to promote the fight over talk was about a possible bow between mayweather and manny pacquiao negotiations continue to stumble with pretty boy insisting the filipino is refusing to accept random drug tests batman says he simply wants a fifty fifty split to the past he seems to go she asians have a long way to go. like i said before. if many want to fight floyd mayweather it would be right here today facing floyd mayweather. shot
off. if you do want to you don't want it so it's obvious he didn't want it so we move on to the next. meanwhile british boxer derek has already has been given an indefinite bond by the world boxing council for his behavior before and after his fight with me klitschko earlier this month he slammed the ukrainian about wayne for the ballots and then paroled with fellow brit david haye in a post fight press conference that the w.b.c. said it was one of the worst behavior has ever by a professional come to mind that because it will take anger management treatment before they consider lifting the suspension. and finally the big guys were out in force in the russian capital over the weekend with more than five hundred power lifters arriving for the moscow open it's not an olympic event but the sport is highly competitive and involves people of all ages as we found out. where there's a will there's a way to these characters are
a fine example of the triumph of human spirit the first most open was in two thousand and eight and today it's a bold and major breakthrough stage and head of the european championship with more and more ready to bulk up for their chance to stand up each tulum and to be stage proves time and again that there's an ever increasing number of people who want to lead a healthy lifestyle and if the choice is powerlifting bench pressing it makes us very happy there are over five hundred people here. well i hope that number will grow into thousands in years to come because i gave you there are two events at this tournament held across all accepted way categories for men women juniors and seniors first is powerlifting which consists of three disciplines the squats bench press and deadlift and second is the stand alone bench press where moscow's alex a bottle managed and eye watering one hundred ninety degree those. to be honest i wanted to press ahead a load but as
a case i won in any case the greatest part about being is that my friends were here to witness my if i'm good at this sport is the building like this because you could not imagine an event like this ten years ago. no perilous in competition goals without the seniors or the veterans as there are sometimes referred to in russia one of the major advantages of this sport is that it's available to anyone it almost any age starting at just thirteen years old another selling point is that even the rookies can their record breakers like the forty five year old sergei my ring call this compact powerhouse lifted his first weight only five years ago but captured two moscow region records in a row and this event already feels the power lifting allows you to always be well toned and keep your body in perfect for a person becomes more motivated not only during practice but in life in general actually your quality of life drastically improves i don't know what it's like another james but our club rid of tobar as ozone help me find friends with common
interests and hobbies for yourself before i must go open it is the biggest regional power that's in competition in russia it might be just four years old but the number of participants has already grown from thirty seven muscovites to five hundred in the thirty representatives from all over the country and a lot more interest but i am assured that anyone is welcome remark offer of heartache. well that's all the sports news for now dimitri will have more in just under a couple of hours time joining that. so. the question is that so much going on there is a huge decision by tabloids if left to right to protect the rights to penetrate as syria continues down the path of destruction and civil war there are loud voices on the international stage.